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The USA has announced there will be import fees for metals from other countries. What does this mean?

Mostly U.S companies import metals from other countries than using the metals extracted in the U.S.A. This is because of U.S metals costs more and metals from other countries such as China are cheaper.

But with the new rule, a company bringing $100,000 worth of steel from other countries has to pay additional $25,000. The $25,000 is for the government of U.S.A.

This will help the U.S mining companies since U.S companies prefer to buy from them. But the U.S companies will raise the price of the products made from them. So U.S citizens have to pay for it. Also, people from other countries reduce buying products from U.S.A since the cost will be higher.


5 Answers

TheOtherTink

I'm not sure; I don't know enough about the metals trade markets.

A lot of American politicians (including Republicans) don't like the idea, but with politicians you can never be sure if they are arguing on sound principles or whether the scoundrels are just politicking for their own personal monetary interests.

Kninjanin
Rooster

I also don't know enough about the metals industry to really say but it doesn't sound like a good idea in the long run. It sounds to me like we're going to be paying more as a consumer either way we go. I don't think this was a very thought out idea and should be studied more closely to look at the long term effects. Especially on aluminum. I can remember seeing the massive steel mills here working away and it should be that way again.

I personally don't like the idea at all. Would like to see the U.S. manufacture it's own metals but if it's going to hurt exports? Then they should leave things as they are.

Hard to tell with our politicians anymore whether they're in it for the American people or their own pockets.

So, my answer is a basic "NO" until I get to study this some more.

As for Trudeau? Anything he says isn't going to sway any opinions for me.

Virginia

Dan, this is one of those questions I just do not know much about, and I learn from people's answers and experience here on SOLVED.

Dan, I am interested in what YOU think? On one of your videos, President Trump says the US has been taken advantage of in unfair trade agreements, and he wants to rectify that. From your point of view, do you think that is true?

Marianne

This might incite other states to "penalise" imports from the USA on the one hand, exacerbate conflicts between big multinational corporations and promote illegal trafficking, corruption and fights among less favoured populations if having to cope with rising prices, or worse ...

But this is just a guess, as I am only remembering certain historical events.

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